Maxim Group Sticks to Its Buy Rating for PAVmed Inc (PAVM)

By Carrie Williams

In a report released today, Anthony Vendetti from Maxim Group maintained a Buy rating on PAVmed Inc (PAVMResearch Report), with a price target of $3. The company’s shares closed on Friday at $0.99, close to its 52-week low of $0.86.

Vendetti wrote:

“On 1/7/19, the FDA held a pre-submission meeting with PAVM and recommended the company conduct human clinical studies for CarpX to address any remaining substantial equivalence (SE) issues. PAVM intends to utilize its first-in-human (FIH) clinical study in a second site to satisfy the FDA’s requirements in support of a 510(k) resubmission. CarpX timeline being pushed out, we have lowered our estimates and price target to $3, from $4.”

According to TipRanks.com, Vendetti is a 4-star analyst with an average return of 3.2% and a 49.8% success rate. Vendetti covers the Healthcare sector, focusing on stocks such as Restoration Robotics Inc, Xtant Medical Holdings, and Ra Medical Systems Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PAVmed Inc with a $3 average price target.

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The company has a one-year high of $3.05 and a one-year low of $0.86. Currently, PAVmed Inc has an average volume of 183.8K.

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PAVmed, Inc. is a medical device company, which develops and commercializes a pipeline of medical products. Its product portfolio includes DisappEAR, PORTIO, Caldus, Carpx, NextCath, and NextFlo. The company was founded on June 26, 2014 and is headquartered in New York, NY.